Latest news with #GulfstreamG700
Yahoo
20-05-2025
- Business
- Yahoo
Jeff Bezos' Billion-Dollar Life: A Look at How He Travels in Style
Amazon founder Jeff Bezos is currently the third-richest person in the world with a net worth of $220.6 billion as of May 19, according to Forbes. Bezos' billions allow him to live a lavish lifestyle, which extends to how he travels. Find Out: Read Next: Here's a look at the luxurious travel lifestyle of Jeff Bezos. A supersized fortune means a supersized yacht for Jeff Bezos. His 410-foot 'Koru' is the world's largest sailing yacht — and it comes with a large price tag to match. The boat itself is worth an estimated $500 million. He paid another $75 million for Abeona, its 250-foot support vessel, and then spends about $30 million a year to cover running costs for both, according to Robb Report. While few details are known about the yacht's interior features, it does include three Jacuzzis and a swimming pool, The New York Times reported. It's also adorned with a mermaid on the bow that bears a striking resemblance to Bezos' fiancée, Lauren Sanchez. Check Out: One private jet simply won't do for Bezos — he reportedly owns a fleet of four private jets worth approximately $200 million, Quartz reported. His latest addition is thought to be the Gulfstream G700, itself worth $80 million. The Gulfstream G700 features 20 panoramic windows, a 'whisper-quiet cabin' and hand-crafted seats that convert into ergonomic beds. The plane can transport up to 13 passengers and sleep up to eight. Bezos stepped down as CEO of Amazon to become executive chairman in 2021, which may have provided him with more free time to enjoy traveling around the world. His lavish vacations most recently included a summer cruising around the Mediterranean with Sanchez on his superyacht, with stops in Greece, Italy, Spain and Menorca, Page Six reported. Among their fellow travelers were Kim Kardashian, Katy Perry, Orlando Bloom and Leonardo DiCaprio. Bezos and Sanchez also enjoyed a winter vacation in Aspen, Colorado, where they indulged in some retail therapy and likely hit the slopes as well, Fox Business reported. More From GOBankingRates Surprising Items People Are Stocking Up On Before Tariff Pains Hit: Is It Smart? The Most Expensive Disney Merchandise Ever Sold -- and Who's Buying It 3 Reasons Retired Boomers Shouldn't Give Their Kids a Living Inheritance This article originally appeared on Jeff Bezos' Billion-Dollar Life: A Look at How He Travels in Style
Yahoo
24-04-2025
- Business
- Yahoo
GD Q1 Earnings Call: Aerospace Growth and Tariff Uncertainty Shape Outlook
Aerospace and defense company General Dynamics (NYSE:GD) reported Q1 CY2025 results topping the market's revenue expectations , with sales up 13.9% year on year to $12.22 billion. Its non-GAAP profit of $3.66 per share was 5.3% above analysts' consensus estimates. Is now the time to buy GD? Find out in our full research report (it's free). Revenue: $12.22 billion vs analyst estimates of $12 billion (13.9% year-on-year growth, 1.8% beat) Adjusted EPS: $3.66 vs analyst estimates of $3.48 (5.3% beat) Adjusted EBITDA: $1.49 billion vs analyst estimates of $1.45 billion (12.2% margin, 2.7% beat) Operating Margin: 10.4%, in line with the same quarter last year Free Cash Flow was -$290 million compared to -$437 million in the same quarter last year Backlog: $88.66 billion at quarter end, down 5.4% year on year Market Capitalization: $71.21 billion General Dynamics' Q1 results were primarily driven by increased aircraft deliveries and ongoing momentum in its defense businesses. CEO Phebe Novakovic highlighted the ramp-up in Gulfstream G700 deliveries and noted, "We saw improved margins on our G700 deliveries," pointing to the introduction of newer models as a significant factor. The Technologies segment also contributed with consistent order activity, while Combat and Marine Systems benefited from stable demand and productivity gains, though supply chain challenges persisted. Looking forward, management discussed the potential impact of recently announced tariffs and evolving government procurement priorities, particularly in aerospace. Novakovic acknowledged uncertainty, stating, "We do not know the scope and breadth of the tariffs issue at the moment and will not for a while." The company expects improved cash flow in the coming quarters, but remains cautious about macroeconomic risks and ongoing discussions with government customers regarding cost savings and contract structures. General Dynamics' first quarter performance reflected robust aircraft deliveries and stable demand across core defense segments, with management addressing both operational improvements and emerging uncertainties. Gulfstream G700 Drives Aerospace: The significant year-on-year increase in Aerospace revenue was attributed to a 50% rise in aircraft deliveries, including the introduction of 13 G700 jets. Margins in this segment improved due to scale and the gradual resolution of supply chain issues, though management noted the delivery cadence will normalize through the year. G800 Certification Completed: The recent certification of the G800 by U.S. and European aviation authorities positions the company for expanded deliveries and future demand stimulation. Management expects the G800's entry into service to support ongoing aerospace growth. Technologies Segment Order Strength: Technologies reported a book-to-bill ratio above 1.0, supported by demand for advanced IT and mission systems solutions. Management noted ongoing customer conversations around cost savings and contract structures, particularly outcome-based contracts, which could shape future margins. Defense Segment Steady, but Supply Chain a Challenge: Combat and Marine Systems continued to see strong demand, especially from European customers and the U.S. Navy. However, Novakovic acknowledged persistent supply chain delays and quality issues, as well as the need for ongoing workforce expansion and productivity gains in shipbuilding. Tariff and Macroeconomic Uncertainty: Management raised concerns regarding the potential impact of new tariffs on both aerospace and defense businesses but stopped short of providing estimates, citing a lack of clarity on how these might affect demand and cost structures in coming quarters. Management's outlook for the remainder of the year centers on sustained demand for new aircraft, ongoing defense contract execution, and sensitivity to global trade policy changes. Tariff Impact on Aerospace: Uncertainty around the magnitude and duration of new tariffs could influence export demand for Gulfstream jets and input costs, with management monitoring the situation closely. Government Procurement and Cost Pressures: Shifts in U.S. government procurement strategies, including efforts to drive cost savings and contract reforms, may alter margin profiles and award timing, especially in the Technologies segment. Supply Chain and Workforce Stability: Continued improvement in supply chain reliability and workforce productivity, particularly in shipbuilding and defense production, are necessary to maintain growth and meet delivery targets. Peter Arment (Baird): Asked about visibility into Technologies segment bookings amid administration-driven cost savings efforts. Management noted ongoing discussions but highlighted a strong order book for the quarter. David Strauss (Barclays): Questioned the effect of recent tariff announcements on Gulfstream order activity. Novakovic responded that the pipeline remains strong, though customers are cautious about potential tariff impacts. Ken Herbert (RBC Capital Markets): Requested commentary on Gulfstream delivery cadence for the remainder of the year. Management indicated deliveries should remain consistent with previous estimates, barring significant supply chain disruptions. Gavin Parsons (UBS): Inquired about margin progression in Aerospace and the effect of G800 certification on future orders. Novakovic confirmed that G800 margins are expected to be higher and that certification is generating customer interest. Andre Madrid (BTIG): Raised concerns about potential trade tensions impacting European defense sales. Management emphasized that European operations are locally integrated, with strong demand persisting in the region. In the coming quarters, our analysts will monitor (1) the pace of Gulfstream G800 and G700 deliveries and their impact on Aerospace growth, (2) the resolution of supply chain and workforce challenges, particularly in shipbuilding, and (3) any quantifiable effects from the introduction of new tariffs on both demand and margin profiles. The company's ability to adapt to evolving government procurement models and manage contract risk will also be key factors shaping near-term results. General Dynamics currently trades at a forward P/E ratio of 18.1×. Is the company at an inflection point that warrants a buy or sell? Find out in our free research report. The market surged in 2024 and reached record highs after Donald Trump's presidential victory in November, but questions about new economic policies are adding much uncertainty for 2025. 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